Business 16 May 2017CoinGeek
A reminder from a China miner
As The Establishment try and blame Bitcoin for cyber-crime (the Ransomware story has somehow become more about Bitcoin than the crime itself), clever stuff boys (and we do mean boys), we have been distracted from the issue of The Fork (again).
The key issue that concerns us here at CoinGeek HQ is how talk of The Fork is not looking hard enough, perhaps deliberately, at the miners themselves. Especially, those in China as they are far less vocal than the Core thumping minnows in the ‘West.’ But all this helped jog our memory about a great piece posted on Medium and translated from miner Jiang Zhuo’er late last year by Zhang San (for the uber-sceptic the Chinese original is here).
The translation in full is a great piece of writing from the most credible of sources and, most interestingly, is anti-Core but more because of the authoritarian nature they try to enforce. To quote: “The pro-scaling camp also supports [elements of] Segwit and Lightning Network, they merely oppose Bitcoin Core’s roadmap. Bitcoin Core plans to implement Segwit as a soft fork, and then to forever limit the block size to a piddling 1MB. Bitcoin Core envisions the Bitcoin blockchain becoming a high-cost ledger used only for high-value money transfers, while all consumer users will be forced onto the Lightning Network.”
Unlike many articles on the subject this is very readable and makes some strong points which are backed up with fact, not least: “Chinese mining pools have all said they want an 8MB block size.”
Yes, he said ‘all’ and, yes, the supporting documentation is there.
Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.
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